This is the new News Round-up where we cover all the things you should know that may or may not deserve a headline on their own (or we may have simply run out of time to cover them). It’s similar to the “While Your Were Sleeping” news coverage, but not the same, hence the name change.
This morning, Jaguar announced they are going racing again, the automaker formerly known as Saab has a business plan and the Tesla Model X has a price spread that would make Porsche blush.
After Tesla is done delivering Founders and Signature editions of its Model X SUV, the company will offer a 70D model later next year with a 220 mile range for $80,000 plus $1,200 for shipping. A 90D, with a range of 257 miles and quicker sprint up to 60 mph, will be offered as well, but the company hasn’t disclosed how much that will cost.
Automotive News reported that the automaker updated its online configurator for potential customers to configure their base cars. A 70D Model X with every option checked tops out around $100,000.
The public Model X page only lists the 90D as deliverable next year, which Automotive News speculated could mean that the company may make the 70D available later in the year or 2017.
Tesla may need to sell 500,000 cars by 2020 to meet projected goals by shareholders.
In it’s third quarter letter to investors, Tesla Motors announced that they are pushing back the start of production of their falcon-winged Model X crossover again, this time until the third quarter of 2015. This is the third time that production has been delayed for the Model X, which Elon Musk originally promised for 2013. That was subsequently pushed back to this year, then to late this year and now delayed again. Tesla put a good face on the delay, characterizing it as “a few months”, and attributing the later production start to more extensive validation testing, wanting to “delight customers” when the Model X does start deliveries.
Although Tesla reported a profit of $17 million on $713 million in revenue, their financials were reported using non-GAAP (Generally Accepted Accounting Principles) figures. Which means that my current checking account, according to non-GAAP figures, is probably somewhere in the high seven figures.
At the opening of his company’s London store, Tesla Motors CEO Elon Musk had some comments about the company’s upcoming falcon-winged crossover, the Model X. He said that it will offered only in an all wheel drive configuration that features electric motors in both the front and back of the car, and that it’s starting price will be slightly more than that of the Model S, which starts at $60,000.
The Model X’s price will be very similar to the Model S. It might be slightly higher, but… I can’t imagine that it will be… It’s probably going to be a slightly higher starting price because the Model X will only be offered as all-wheel drive. It will be dual motor, all-wheel drive.
[The relevant remarks start at ~24:00 of the video]
An article in the New York Times Dealbook blog claims that Tesla is using their customer deposits on upcoming models as a major source of cash to finance operations.
The Tesla Roadster is one of the most enjoyable vehicles I’ve ever driven – the problem is, Tesla hasn’t done anything since then, and is releasing new models before their long-awaited Model S sedan is even on sale.